BAKU, Azerbaijan, October 19. The Eurasian
Development Bank (EDB) and AKASHI Data Center PLC have signed an
agreement to provide up to $31.2 million in financing for a data
center project in Astana, according to the bank.


The project will expand Kazakhstan's data storage and processing
capacity and mark the first data center construction project in the
EDB's investment portfolio.


AKASHI Data Center PLC is developing one of the largest
commercial data center construction projects in Central Asia. The
campus will have a total planned capacity of 100 megawatts (MW),
with approximately 10 MW allocated to the first phase. The design
documentation for AKASHI Data Center 1, Phase 1, has received Tier
IV Certification of Design Documents from the Uptime Institute.


The project will expand the availability of modern data storage
and processing infrastructure in Kazakhstan and create additional
opportunities for financial institutions, technology companies and
cloud service providers.


"AKASHI Data Center supports Kazakhstan’s strategic focus on
developing its digital economy and artificial intelligence.
Kazakhstan’s President, Kassym-Jomart Tokayev, has designated 2026
as the Year of Digitalisation and Artificial Intelligence, and the
EDB’s participation in the project will make a practical
contribution to achieving these priorities. Building modern data
storage and processing infrastructure will expand opportunities for
the digital transformation of businesses and help strengthen
Kazakhstan’s position as a regional technology hub," said Sergey
Ignatov, EDB Senior Managing Director and Head of the Project
Block.


Vladislav Minkevich, Chairman of the Management Board of AKASHI
Data Center, noted that Kazakhstan can become not only a consumer
but also an exporter of digital infrastructure.


"When international companies host their computing workloads in
Kazakhstan, export revenues are generated here, driving demand for
local engineering expertise, telecommunications and services. This
is precisely the model we are developing at AKASHI. The EDB’s
participation in the project represents an investment in a new area
of non-resource exports, where Kazakhstan will be able to compete
for international customers on the strength of the quality and
reliability of its technology infrastructure," he said.







Modern data center infrastructure allows companies to host
mission-critical information systems in specialised facilities
without having to build their own data centers. This helps
businesses optimise their infrastructure solutions and creates
favourable conditions for developing digital products and
services.


The AKASHI Data Center project aims to provide a reliable
foundation for the continuous operation of digital services and
enable computing capacity to scale as business needs grow.


AKASHI Data Center is a company developing a commercial data
center campus in Astana, with total investment of approximately
$354 million and a planned capacity of 100 MW. The campus will
comprise four independent data center modules, along with dedicated
power and telecommunications infrastructure.


A separate module is being designed to support high-density
artificial intelligence workloads and high-performance computing
using liquid cooling technology. The campus is being developed as a
carrier-neutral facility with four independent optical fibre entry
points and connectivity options to Kazakhstani and international
telecommunications operators. The first phase is scheduled to
commence commercial operations in 2027.


The Eurasian Development Bank (EDB) is a multilateral
development bank investing in Eurasia. For 20 years, the bank has
worked to strengthen and expand economic ties and foster
comprehensive development in its member countries. By the end of
December 2025, the EDB's cumulative portfolio comprised 348
projects with total investment of $22.1 billion. Its portfolio
consists principally of projects with an integration effect in
transport infrastructure, digital systems, green energy,
agriculture, manufacturing and mechanical engineering. The bank
adheres to the UN Sustainable Development Goals and ESG principles
in its operations.


The EDB is implementing three mega-projects as part of its
2022-2026 Strategy: the Eurasian Transport Network, the Eurasian
Agricultural Goods Distribution System and the Central Asian Water
and Energy Complex.